"Invest in an established brand name that people trust"
Scoring four awards at Cash Generator's annual conference has recognised Graeme Mulheron's ambitious growth which will see him open his third store in his third year
Picking up the ultimate accolade of Franchisee of the Year at Cash Generator's annual franchise conference crowned a successful night for Graeme Mulheron, whose commitment to customer satisfaction saw his Luton and Stevenage stores also achieve the feat of claiming first and second place in the Cash Generator Store Standards Customer Service award. A fourth award for New Store Of The Year - Runner Up rounded up a big night for Graeme, who has only been with the Cash Generator network since 2007.
"In my first conference in 2008 I won an award for my Luton store and the recognition does give you motivation," says Graeme (pictured, third from left, with his staff). "It is hard work running a business and while you can earn great profits there's nothing like a pat on the back occasionally to give you a lift. To pick up four awards this time round is a very satisfying reward for my commitment to Cash Generator."
The annual conference offers Cash Generator franchise owners an opportunity to be updated on the performance of the network over the past year, as well as to discuss the key trading periods in the year ahead. "Also," adds Graeme, "it's the main event of the year that franchise owners can get together to have a good time!"
Previously the owner of a sales and marketing agency for 18 years, Graeme began to search for a new challenge that would allow him to make use of his sales experience. "I liked being my own boss and was aware of the power of the brand, so decided to take the franchising route and invest in an established brand name that people trust," he says. "While I looked at other franchises in different industry sectors, I kept coming back to Cash Generator because of its excellent credentials. With its multiple income streams from buying and selling pre-owned goods, cheque cashing, pay-day loans, currency exchange and Western Union money transfers, I realised the franchise had the ability to hold its ground in any economic climate.
"I found Cash Generator in The Franchise Magazine and was impressed by the speed in which Cash Generator's franchise team responded to my enquiry. After contacting head office I arranged to shadow an existing franchise owner in a store for a day and contacted other existing franchise owners to see how they were getting on and received positive feedback."
Cash Generator ensures franchise owners are fully prepared to run their own businesses with an eight- week intensive training programme, followed up with ongoing support which Graeme hails as "superb". He continues: "Help is always available either by phone or in person. Cash Generator has helped me promote my stores within my territory and to resolve any issues that come about. Visits from the Area Manager have been a huge benefit ensuring I never feel completely on my own."
With two stores trading successfully Graeme is already at an advanced stage of opening a third operation. "I am so pleased I decided to invest in the Cash Generator opportunity. It is so refreshing to enjoy going to work and to feel excited about the future. Developing the business does take up a lot of my time, so I feel fortunate that I have a supportive family behind me."
Interview by Stuart Anderson
Initial Investment Requirement
Minimum personal investment requirement is £70,000 - £80,000. The balance can be secured through financing providing security is available, subject to status.